EX-99

Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Trustees of
Putnam Limited Duration Government Income Fund


In planning and performing our audit of the financial statements
of the Putnam Limited Duration Government Income Fund, as of  and
for the year ended November 30, 2005, in accordance with the
standards of the Public Company Accounting Oversight Board
(United States), we considered its internal control over
financial reporting, including control activities for
safeguarding securities, as a basis for designing our auditing
procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements of Form
NSAR, but not for the purpose of expressing an opinion on the
effectiveness of the Putnam Limited Duration Government Income
Funds internal control over financial reporting.   Accordingly,
we express no such opinion.

The management of the Putnam Limited Duration Government Income
Fund is responsible for establishing and maintaining effective
internal control over financial reporting.  In fulfilling this
responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of
controls.  A companys internal control over financial reporting
is a process designed to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with
U.S. generally accepted accounting principles.  Such internal
control includes policies and procedures that provide reasonable
assurance regarding prevention or timely detection of
unauthorized acquisition, use or disposition of a companys assets
that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to future
periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree
of compliance with the policies or procedures may deteriorate.

A control deficiency exists when the design or operation of a
control does not allow management or employees, in the normal
course of performing their assigned functions, to prevent or
detect misstatements on a timely basis. A significant deficiency
is a control deficiency, or combination of control deficiencies,
that adversely affects the companys ability to initiate,
authorize, record, process or report external financial data
reliably in accordance with U.S. generally accepted accounting
principles such that there is more than a remote likelihood that
a misstatement of the companys annual or interim financial
statements that is more than inconsequential will not be
prevented or detected. A material weakness is a significant
deficiency, or combination of significant deficiencies, that
results in more than a remote likelihood that a material
misstatement of the annual or interim financial statements will
not be prevented or detected.

Our consideration of the Putnam Limited Duration Government
Income Funds internal control over financial reporting was for
the limited purpose described in the first paragraph and would
not necessarily disclose all deficiencies in internal control
that might be significant deficiencies or material weaknesses
under standards established by the Public Company Accounting
Oversight Board (United States).  However, we noted no
deficiencies in the Putnam Limited Duration Government Income
Funds internal control over financial reporting and its
operation, including controls for safeguarding securities, that
we consider to be a material weakness as defined above as of
November 30, 2005.

This report is intended solely for the information and use of
management and the Board of Trustees of the Putnam Limited
Duration Government Income Fund and the Securities and Exchange
Commission and is not intended to be and should not be used by
anyone other than these specified parties.




/s/ KPMG LLP

January 10, 2006

EX-99

Regulatory matters and litigation

Putnam Management has entered into agreements with the Securities
and Exchange Commission and the Massachusetts Securities Division
settling charges connected with excessive short term trading by
Putnam employees and, in the case of the charges brought by the
Massachusetts Securities Division, by participants in some Putnam
administered 401(k) plans.  Pursuant to these settlement
agreements, Putnam Management will pay a total of $193.5 million
in penalties and restitution, with $153.5 million being paid to
shareholders and the funds. The amount will be allocated to
shareholders and funds pursuant to a plan developed by an
independent consultant, and will be paid following approval of
the plan by the SEC and the Massachusetts Securities Division.

The Securities and Exchange Commissions and Massachusetts
Securities Divisions allegations and related matters also serve
as the general basis for numerous lawsuits, including purported
class action lawsuits filed against Putnam Management and certain
related parties, including certain Putnam funds.  Putnam
Management will bear any costs incurred by Putnam funds in
connection with these lawsuits.  Putnam Management believes that
the likelihood that the pending private lawsuits and purported
class action lawsuits will have a material adverse financial
impact on the fund is remote, and the pending actions are not
likely to materially affect its ability to provide investment
management services to its clients, including the Putnam funds.

Putnam Investments has recorded a charge of $30 million for the
estimated cost, excluding interest, that it believes will be
necessary to address issues relating to the calculation of
certain amounts paid by the Putnam mutual funds in previous
years.  The previous payments were cost reimbursements by the
Putnam funds to Putnam for transfer agent services relating to
defined contribution operations.  Putnam currently anticipates
that any payments made by Putnam related to this issue will be
paid to the Putnam funds. Review of this issue is ongoing.

Putnam Management and Putnam Retail Management are named as
defendants in a civil suit in which the plaintiffs allege that
the management and distribution fees paid by certain Putnam funds
were excessive and seek recovery under the Investment Company Act
of 1940.  Putnam Management and Putnam Retail Management have
contested the plaintiffs claims and the matter is currently
pending in the U.S. District Court for the District of
Massachusetts.  Based on currently available information, Putnam
Management believes that this action is without merit and that it
is unlikely to have a material effect on Putnam Managements and
Putnam Retail Managements ability to provide services to their
clients, including the fund.

EX-99

Putnam Limited Duration Government Income Fund
Annual Report  November 30, 2005

Because the electronic format for filing Form NSAR does not
provide adequate space for responding to certain items correctly,
the correct answers are as follows:

53A	For the period ended November 30, 2005, Putnam Management
has assumed $8,939 of legal, shareholder servicing and
communication, audit and Trustee fees incurred by the fund in
connection with certain legal and regulatory matters (including
those described in Note 5).

72DD1(000s omitted)	Class A	    $7,445
				Class B        2,458
				Class C		  231

72DD2(000s omitted)	Class M		  155
				Class R		    2
				Class Y		4,193

73A1				Class A		0.119854
				Class B		0.089167
				Class C		0.081655

73A2				Class M		0.112121
				Class R		0.107092
				Class Y		0.132577

74U1	(000s omitted)	Class A		59,599
				Class B		22,617
				Class C		 2,640

74U2	(000s omitted)	Class M		 1,286
				Class R		    33
				Class Y		31,347

74V1				Class A	    $5.02
				Class B		5.03
				Class C		5.02

74V2				Class M		5.04
				Class R		5.02
				Class Y		5.01


Additional Information About Errors and Omissions Policy
Item 85B

While no claims with respect to the Registrant/Series were filed
under such policy during the period, requests under such policy
for reimbursement of legal expenses and costs arising out of
claims of market timing activity in the Putnam Funds have been
submitted by the investment manager of the Registrant/Series.